Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland confirms that it is unaware of any company-specific inside information which would account for the negative movement in the share price in recent days.
The Board confirms that the 2018 field season continues to progress well at the Company’s flagship Dundas Ilmenite Project in Greenland (‘Dundas’ or the ‘Project’) and the Company’s strategy remains unchanged.
Further to the development update on 22 May 2018, the Company’s cash balance is currently in excess of £12 million with all substantial 2018 field season capital costs having now been paid.
The Board will update the market as appropriate in due course.
Bluejay is dual listed on the London AIM market and Frankfurt Stock Exchange and primarily focussed on advancing the Dundas Ilmenite Project in Greenland into production in the near term. Dundas has been proven to be the highest-grade mineral sand ilmenite project globally, with a JORC Compliant Resource of 96 million tonnes at 6.9% ilmenite (in situ) and an Exploration Target over the Iterlak Delta of between 20 million tonnes and 60 million tonnes at between 6% and 10% ilmenite (in-situ) (see full Mineral Resource Statement below).
Dundas Titanium Project heli-fly-over newly identified exploration targets at Iterlak Delta
The Company’s strategy is focused on securing an offtake partner and commencing commercial production at Dundas in the near term in order to create a company capable of self-funding exploration on current projects and future acquisitions.
Bluejay holds two additional projects in Greenland – the 2,586 sq km Disko-Nuussuaq (‘Disko’) Magmatic Massive Sulphide (‘MMS’) nickel-copper-platinum project (‘Ni-Cu-PGM’), which has shown its potential to host mineralisation similar to the world’s largest nickel/copper sulphide mine Norilsk-Talnakh, and the 107sq km Kangerluarsuk Sed-Ex lead-zinc-silver project (‘Kangerluarsuk’), where historical work has recovered grades of 41% zinc, 9.3% lead and 596 g/t silver and identified four large-scale drill ready targets.
The Company also has a 100% interest in a portfolio of copper, zinc and nickel projects in Finland. This multi-commodity portfolio has been restructured to be cost-sustainable whilst determining the best plan for future development.
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